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February 2018

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Sears Canada, a multi-channel retailer, has announced that Ronald D. Boire will be departing from his position as president and chief executive officer of the company. In order to provide enhanced leadership during the transition, Brandon G. Stranzl, chairman of the Board of the Corporation, has been named executive chairman effective immediately.

Brandon G. Stranzl said, “I am enthusiastic about the opportunity to play an expanded role within our organization, and I am committed to working closely with all our Sears associates and business partners to make progress on our goals to delight our customers and return Sears Canada to profitability. We are grateful for Ron’s support as we search for and welcome a new CEO. In the meantime, the management team and I are fully engaged in executing the current strategy, designed to improve our retail operations so we can best serve Canadian communities from coast-to-coast.”

The board of directors will commence a search for a new president and CEO.